Loan & DebtJun 3, 2026, 10:15 PM
Celcuity prices upsized $500M convertible senior notes offering
AI Summary
Celcuity Inc. announced the pricing of its upsized underwritten public offering of $500 million aggregate principal amount of 0.250% convertible senior notes due 2032. The offering size was increased from the previously announced $400 million, and underwriters have an option to purchase an additional $75 million. The company estimates net proceeds of approximately $484.3 million, which will be used to repay existing loan obligations and for general corporate purposes, including potential acquisitions.
Key Highlights
- Celcuity priced an upsized public offering of $500,000,000 aggregate principal amount of 0.250% convertible senior notes due 2032.
- The offering size was increased from the previously announced $400,000,000.
- Underwriters have a 30-day option to purchase up to an additional $75,000,000 in notes.
- The Convertible Notes will accrue interest at 0.250% per year, payable semi-annually.
- Initial conversion rate is 8.0302 shares per $1,000 principal, equivalent to $124.53 per share.
- This represents a conversion premium of approximately 40.0% above the last reported sale price.
- Estimated net proceeds are approximately $484.3 million, or $557.0 million if the over-allotment option is fully exercised.
- Proceeds will be used to repay outstanding loan obligations and for working capital and general corporate purposes.
Price Impact
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